The West Ada School District has sold $96 million in bonds for construction of three schools and completion of Meridian High School’s expansion.
The bonds pay 3.2 percent annual interest. The district’s total payback over the next 19 years will be $130,618,578.62.
Voters approved the bond in March, after first rejecting a $104 million bond for school improvements in August. Part of the money will go for construction of Victory Middle School and Hillsdale Elementary School south of Interstate 84 in a rapidly growing section of Meridian. Work has already begun on Victory to ease overcrowding at Lake Hazel Middle School, which has 1,450 students in a building meant to hold 1,000. The new middle school will be built for 1,000 students.
Plans also call for building a middle school in Star and completing the Meridian High School renovation.
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Zions Bank negotiated on behalf of the district for terms of the sale.
Piper Jaffray & Co. sold the bonds.